Litecoin Price Drops 6% as On-chain Metrics Show a Potential Reversal – Can LTC Reclaim $100 Mark?

Highlights:

• Litecoin price has dropped 6% to $87 mark, with the crypto market as a whole tanking 3%.
• Despite the bearish outlook, a crypto analyst foresees a potential rebound toward the $150-$200 mark.
• On-chain metrics data show a potential reversal as volume surges 13% to $840.34M. 

The Litecoin price structure seems shaky after LTC/USD tanked 6% to the $87 mark. Despite the outlook, analysts are still optimistic about the LTC recovery soon. SantoXBT has taken to his X page and noted that Litecoin’s price could potentially reclaim the $150-200 level soon. 

I am definitely seeing $LTC at 150-200$ levels trading soon. It cannot be different, it simply can't.

What is your opinion on that? pic.twitter.com/wLwybcPjSu

— Santolita (@SantoXBT) March 28, 2025

Meanwhile, despite the bearish sentiment, Litecoin’s hashrate recently hit a new All-Time High. The recent ATH signals higher network security in the LTC market. Other crypto analysts are optimistic that this may draw other investors into the market, stirring a price rebound. 

Litecoin's Hashrate hitting NEW ATHs!! pic.twitter.com/LnARCKuzDG

— Litecoin Foundation (@LTCFoundation) March 27, 2025

On-chain metrics data from Coinglass show a slight fall in open interest to 3% as the volume spiked 13%. This shows a potential trend reversal in the Litecoin market, meaning that traders are closing existing positions instead of opening new ones. 

Meanwhile, the crypto market is tumbling, led by the king-coin(Bitcoin), which has significantly dropped. Other major altcoins line Ethereum, Solana, and XRP are not an exception, as they have plummeted 6%, 5%, and 6%, respectively. With the current downtrend in the market, can Litecoin price recover above the $100 mark soon?

LTC Price Outlook

The Litecoin price plummeted 6% to $87.56 as the crypto market suffered 3% losses to $2.74 trillion. The LTC price has notably flipped below the moving averages, painting the bigger picture as bearish. The bearish flag pattern is notably in the LTC market, tilting the odds toward the sellers.

If the sellers continue having the upper hand in the market, LTC could drop further. In such a case, the bears will breach the lower boundary of the bearish flag toward the $84.41 support area. A breakout below this level will lead to a deeper correction, around $80.83.

Conversely, the bulls could gain stamina at this level and ignite a rebound in the market. A closer look at the Relative Strength Index shows a southbound market momentum, currently at 36.87. Its position below the 50-mean level indicates that the bears have the upper hand. However, with the LTC undervalued, the bulls could initiate a buy-back strategy, causing a recovery towards the $95 technical barrier. 

The MACD indicator notably shows a potential upside, as the momentum indicator has flipped above the orange signal line. Moreover, the green histograms increase as the MACD hurtles towards the positive territory above the neutral level. The bulls could validate the bullish momentum if they climb into positive territory.

On the other hand, the increasing trading volume shows a renewal of strength in the LTC market. This indicates that investors are attempting to gather confidence, as the volume is up 20% to $496.83 M. If the bulls reclaim the $95 level as support, a short-term bullish outlook could be ignited. A decisive break above the $108 mark, which aligns with the 50-day MA, would invalidate the bearish outlook in the LTC market.